Another Dip Ahead for the Economy?

Disclaimer

This is a Fan Based Blog ,we are not authorized , endorsed, licensed, approved, recommended, published, maintained, edited or managed by Nouriel Roubini, or any of his affiliates, agents or representatives (all such persons are referred to as Nouriel Roubini in this disclaimer). Nouriel Roubiniaccepts no responsibility or liability whatsoever for this blog or its content, including its advertising and links to other websites. No endorsement or approval byNouriel Roubini of any individuals , goods or services is implied . Text Video and other content available on or via this blog might misquote mischaracterize , use out of context , edit or otherwise misrepresent Nouriel Roubini statements and views . Use at your own risk.

Friday, September 18, 2009

Interviewed by CNBC Roubini said "It's going to be death by a thousand cuts," Nouriel Roubini, chairman of RGE Monitor and professor of economics at New York University's Stern School of Business adds "The financial system is severely damaged, and it's not just the banks."
"The gap between supply and demand is so huge we could stop producing new homes for a year to get rid of all the inventory," he said. "This price adjustment, in my opinion, is going to continue for another year."
"We already were in the middle of a very severe crisis. Saying that bailout out Lehman, everything would have been OK, is nonsense," he said. "Lehman was a symptom of the crisis, not the cause of the crisis."

Wednesday, September 16, 2009

The financial crisis would have happened even if Lehman Brothers was bailed out, Nouriel Roubini, chairman of RGEMonitor.com, told CNBC. He discusses the anniversary of the firm's collapse and the state of global financial markets.

"It's going to be death by a thousand cuts," said Roubini, chairman of RGE Monitor and economics professor at New York University's Stern School of Business. "The financial system is severely damaged, and it's not just the banks."

Roubini predicted more than 1,000 financial institutions could fail before all is said and done.

"The gap between supply and demand is so huge we could stop producing new homes for a year to get rid of all the inventory,"Roubini added. "This price adjustment, in my opinion, is going to continue for another year."

"We already were in the middle of a very severe crisis. Saying that bailout out Lehman, everything would have been OK, is nonsense" he said. "Lehman was a symptom of the crisis, not the cause of the crisis."

Wednesday, September 9, 2009

Dr. Doom’ Might Have Spared Bear, Saved $34 TrillionThe nickname Dr. Doom was hung on Kaufman long before it became synonymous with Nouriel Roubini, the New York University gloom meister. Kaufman, a former Salomon Brothers Inc. managing director and economist, has spent decades telling anyone who would listen about the dangers of ballooning debt, deregulation, excessive risk-taking, and the rise of financial conglomerates such as Citigroup Inc.Source :

Nouriel Roubini, the notorious “prophet of doom” before the financial crash, is warning there is a growing risk of a “double dip” recession—in other words, that the present recovery will be followed by another slump, perhaps at the end of next year.

Roubini predicts that the recovery will in any case be “anaemic” just because the problems of the financial system have not been overcome. Moreover, if the stimulus of higher government spending is withdrawn too soon, the world economy will collapse again. This is the mistake Franklin Roosevelt’s New Deal administration made, leading to the terrible recession of 1937-8.

So it’s not surprising then that the G20 decided to carry on with government economic stimulus programmes for the time being. No, the crisis is far from over.

Nouriel Roubini will have a small role in the upcoming Oliver Stone sequel, Wall Street 2 Money Never Sleeps has become a hotbed for Hollywood’s A-list. The first film starred current TV actor Charlie Sheen as Gordon Gekko’s naive apprentice Bud Fox, and apparently he’s back for more, and surprisingly the long awaited casting of Jonah Hex aka Josh Brolin has also been confirmed! Nouriel Roubini Dr Doom NYU Professor And Chairman Of RGE Monitor professor of Economics, and is best reknown for predicting the current the collapse of the housing market and the current financial recession.

Sunday, September 6, 2009

Roubini: “U-shaped” recovery is possible

September 6, 2009

CERNOBBIO, Italy (Reuters) -Nouriel Roubini, a leading economist who predicted the scale of global financial troubles, said a U-shaped recovery is possible, with leading economies undeperforming perhaps for 3 years.

He said there is also an increasing risk of a “double-dip” scenario, however.

“I believe that the basic scenario is going to be one of a U-shaped economic recovery where growth is going to remain below trend … especially for the advanced economies, for at least 2 or 3 years,” he said at a news conference here.

“Within that U scenario I also see a small probability, but a rising probability, that if we don’t get the exit strategy right we could end up with a relapse in growth … a double-dip recession,” he added.

Roubini, a professor at New York University’s Stern School of Business, said he was concerned economies which save a lot, such as China, Japan and Germany, might not boost consumption enough to compensate for any fall in demand from “overspenders” such as the United States and Britain.

“If markets were to believe, and I’m not saying it’s likely, that inflation is going to be the route that the U.S. is going to take to resolve this problem, then you could have a crash of the value of the dollar,” Roubini said in an interview today in Cernobbio, Italy. “The value of the dollar over time has to fall on a trade weighted basis, but not necessarily relative to euro and yen.”Source Bloomberg

Friday, September 4, 2009

Sept. 4 speaking at a conference in Cernobbio on the Como lake in Northen Italy Dr Doom and University Professor Nouriel Roubini emphasized the need for changes in the banking compensation policies and regulations as the world economy is showing signs of emerging from the worst economic crisis after the great depression. Via BloombergNouriel Roubini, NYU Professor And Chairman Of RGE Monitor

Wednesday, September 2, 2009

" The debt ratios of banks and (individuals) are very high; (Individuals) have barely started saving. So what we’ve done is socialize these private losses and now we have a massive releveraging of the public sector with large and unsustainable budget deficits." Roubini told CNBC Fast Money..."I don’t believe China can be the main locomotive of global growth – China GDP is only $3 trillion the US is $15 trillion. Chinese total consumption is $1 trillion the US is $10 trillion.So China is too small to be the main locomotive of engine of global growth, and there are excesses right now in China like froth in the real estate and the stock market. And there is now the beginning of a correction. And if there was a sharp slowdown in China, that’s going to be again negative for the global economy." Roubini said in the same interview about China

Dr. Doom Nouriel Roubini

Roubini Quote : "The Treasury plan is a disgrace: a bailout of reckless bankers, lenders and investors that provides little direct debt relief to borrowers and financially stressed households and that will come at a very high cost to the US taxpayer. And the plan does nothing to resolve the severe stress in money markets and interbank markets that are now close to a systemic meltdown. "

If implemented, the last-gasp deal to keep Greece in the euro zone should allow the region’s economy and markets to regain the momentum ...

Nouriel Roubini nicknamed Dr. Doom and lately Dr. Realist by CNBC , is a professor of economics at the Stern School of Business, New York University and chairman of RGE Roubini Global Economics, an economic consultancy firm . Prof. Nouriel Roubini A world-class economist who offers an unflinching look at the global meltdown and distinctive insights into its course going forward. His research on financial crisis in emerging economics has yielded a unique and now vindicated approach to future collapses. Roubini speaks on the global economic outlook and its implications for the financial markets. From his analysis of past collapses of emerging economies, he has identified common factors that support his predictions of crisis in the US and world markets. He has held several high-level advisory positions in the US government and international finance organisations, published numerous policy papers and books on key international macro-economic issues and is regularly cited as an authority in

NOURIEL ROUBINI BLOG

This is a Fan Based Blog ,we are not authorized , endorsed, licensed, approved, recommended, published, maintained, edited or managed by Nouriel Roubini ‏, or any of his affiliates, agents or representatives (all such persons are referred to asNouriel Roubini ‏ in this disclaimer). Nouriel Roubini ‏ accepts no responsibility or liability whatsoever for this blog or its content, including its advertising and links to other websites. No endorsement or approval byNouriel Roubini ‏ of any individuals , goods or services is implied . Text Video and other content available on or via this blog might misquote mischaracterize , use out of context , edit or otherwise misrepresent Nouriel Roubini ‏ statements and views . Use at your own risk.

This blog is not intended to give you financial advice. Before investing, do your own research and consult your financial adviser.